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wall street: Early retirement due to stock market tumble - 10/20/08 12:02 PM
The father of a friend of mine has been flying for American Airlines for over 30 years. Though this pilot will only be turning 60 this November, he has decided to take an early retirement. He has some very foresightful reasoning for doing so.
Knowing that his pension is linked to the stock exchange, this man took the chance a year or two ago to lock in his retirement income amount to what the stock market was doing then. I'm not sure of the logistics, but this lock only lasts a couple of years. Rather than retiring in a few years … (3 comments)
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wall street: Good News Monday - No Panicking Allowed for Wall Street Fears - 09/29/08 11:59 AM
The media has accurately predicted 33 of the last 4 recessions.
-- Zig Ziglar
We all know that the media tends to feed on drama, reporting bad news when it's available, and finding bad news to report when nothing horrible is happening. They have a lot to report these days!
One fear the media is feeding on right now is people's fear of losing a lot of money and savings due to the stock market's wild fluctuations lately. While there is no way of denying the roller coaster ride going on down on Wall Street, we thought we'd throw some … (4 comments)
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wall street: Massively important update on Wall Street and the bailout – we need your help! - 09/26/08 01:23 PM
Please read to the very end. This stuff is incredibly important!
A favorite financial pundit of mine* presented the plan on his radio show, and I think it’s quite good. It eliminates the need to lend $700 billion to Wall Street (you and I will each personally pay about $35,000 to do this, by the way). Curious? Keep reading...
Understanding the details of this plan requires a little accounting lesson. Bear with me, it’s very important. The term to understand is mark-to-market accounting.
Part of the Enron and WorldCom scandals had to do with improper valuation of assets. Or in … (14 comments)
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wall street: Seeing the dark side of bailing out Wall Street - 09/24/08 11:57 AM
Last week I admitted, albeit with a lot of trepidation, that the government's proposed $700 billion Wall Street bailout may be what the doctor ordered.
I thought it might be what the market needed to stop its panicked hyperventilations. I thought that for this one time, it might be worth it to suspend my dislike of big government and admit that the move was necessary. I decided to ignore the potential dark side and breathe a sigh of relief for a day.
I'm starting to doubt myself. There are a couple things about the idea that are scratching at my neck … (16 comments)
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wall street: Bailing out Wall Street and other things that make me squirm - 09/19/08 12:13 PM
Don't get me wrong, I have my opinions about politics. Generally I just like to keep them to myself. I'll make an exception when it comes to Big Government.
I don't like it. Not one bit. Get your hand out of my wallet, Uncle Sam.
So when I heard the news that the US government plans on creating a separate fund to buy bad debt off of the books of struggling banks and other Wall Street players, I got on my high horse and started preaching to anyone who would listen (ie, the cats and the trash collector) about the … (12 comments)
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Carey Pott
Foothill Ranch,
CA
More about me…
January Financial
Address: 28 Rue Fontaine, Foothill Ranch, CA, 92610
Office Phone: (949) 305-6355
Cell Phone: (714) 306-4969
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